I(first time buyer) purchased an plot for self occupation through Bank plot+construction loan and will pay interest 50,000 from December 2021 to March 2022 and Bank will give me construction Certificate in March 2022.
As i am government salaried person and submitted all tax details of FY2021-22 with Employer's green sheet exempt pre-construction interest.
There are some questions of my above case only in which i have some confusion:
1. When do we have to make this 50,000 claim:
- Can i claim this interest amount at a time of ITR filling in July2022
OR
- Should i show up 50,000 amount in Employer's Green Sheet of FY2022-23
2. can i take both section 24(B) = 2L and Section 80EE= 50K in my case so that my maximum limit can be 2.5L ?
3. Under Section 24(B), Preconstruction interest can be claimed in 5 equal instalment after completion of construction.
In My case, Home Loan Interest of FY2021-22 = 50,000 (10K + 10K + 10K + 10K + 10K)
Home Loan Interest of FY2022-23 = 1,50,000
How much interest amount of FY2021-22 can claim in Fy2022-23:: 50,000 or 10,000 ?
4. can anyone claim more than one installments at same time if the total amount does not exceed 2 Lakh by adding that installment amount ?
CAclubindia
